Rosenblatt Securities set a $13.00 price target on NeoPhotonics (NYSE:NPTN) in a research report report published on Saturday morning. The brokerage currently has a buy rating on the semiconductor company’s stock.
NPTN has been the topic of several other research reports. Needham & Company LLC reaffirmed a strong-buy rating and set a $9.00 target price (up previously from $8.00) on shares of NeoPhotonics in a research note on Friday, March 2nd. Zacks Investment Research raised NeoPhotonics from a sell rating to a hold rating in a research note on Wednesday, December 6th. DA Davidson lifted their target price on NeoPhotonics to $6.50 and gave the company a neutral rating in a research note on Wednesday, December 6th. ValuEngine raised NeoPhotonics from a sell rating to a hold rating in a research note on Friday. Finally, Piper Jaffray Companies cut NeoPhotonics from an overweight rating to a neutral rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $8.86.
NeoPhotonics (NYSE NPTN) traded up $0.33 during trading hours on Friday, reaching $7.17. The company’s stock had a trading volume of 1,338,605 shares, compared to its average volume of 775,538. The company has a current ratio of 1.85, a quick ratio of 1.25 and a debt-to-equity ratio of 0.20. NeoPhotonics has a 52 week low of $4.56 and a 52 week high of $9.78. The stock has a market cap of $315.09, a PE ratio of -5.83 and a beta of 1.00.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quentec Asset Management LLC grew its stake in shares of NeoPhotonics by 24.3% in the 3rd quarter. Quentec Asset Management LLC now owns 2,403,104 shares of the semiconductor company’s stock valued at $13,361,000 after buying an additional 469,087 shares in the last quarter. Royce & Associates LP grew its stake in shares of NeoPhotonics by 25.2% in the 4th quarter. Royce & Associates LP now owns 2,274,658 shares of the semiconductor company’s stock valued at $14,967,000 after buying an additional 457,930 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of NeoPhotonics by 7.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,629,639 shares of the semiconductor company’s stock valued at $12,580,000 after buying an additional 114,518 shares in the last quarter. Northpointe Capital LLC grew its stake in shares of NeoPhotonics by 21.6% in the 4th quarter. Northpointe Capital LLC now owns 1,238,969 shares of the semiconductor company’s stock valued at $8,152,000 after buying an additional 220,475 shares in the last quarter. Finally, Granite Point Capital Management L.P. grew its stake in shares of NeoPhotonics by 8.8% in the 3rd quarter. Granite Point Capital Management L.P. now owns 458,302 shares of the semiconductor company’s stock valued at $2,548,000 after buying an additional 36,998 shares in the last quarter. 78.12% of the stock is owned by institutional investors and hedge funds.
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NeoPhotonics Corporation develops, manufactures and markets optoelectronic products that transmit, receive and switch digital optical signals for communications networks. The Company develops and manufactures Transmitter Products, Receiver Products and Switch Products that are used in ultra-high speed digital optical communications, high speed switching and provisioning, and access connections for wireless and fiber-to-the-home communications networks.
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